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Tags

#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4

Question

when the *magnitude*(ignoring algebraic sign) of the own-price elasticity coefficient has a value less than one, demand is defined to be [...]

Answer

inelastic

Tags

#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4

Question

when the *magnitude*(ignoring algebraic sign) of the own-price elasticity coefficient has a value less than one, demand is defined to be [...]

Answer

?

Tags

#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4

Question

when the *magnitude*(ignoring algebraic sign) of the own-price elasticity coefficient has a value less than one, demand is defined to be [...]

Answer

inelastic

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when the magnitude(ignoring algebraic sign) of the own-price elasticity coefficient has a value less than one, demand is defined to be inelastic

#### Original toplevel document

**4.1. Own-Price Elasticity of Demand**

ded by only 0.12 percent. Actually, that is not too different from empirical estimates of the actual demand elasticity for gasoline in the United States. When demand is not very sensitive to price, we say demand is inelastic . To be precise, <span>when the magnitude(ignoring algebraic sign) of the own-price elasticity coefficient has a value less than one, demand is defined to be inelastic. When that magnitude is greater than one, demand is defined to be elastic . And when the elasticity coefficient is equal to negative one, demand is said to be unit elastic , or unita

when the magnitude(ignoring algebraic sign) of the own-price elasticity coefficient has a value less than one, demand is defined to be inelastic

ded by only 0.12 percent. Actually, that is not too different from empirical estimates of the actual demand elasticity for gasoline in the United States. When demand is not very sensitive to price, we say demand is inelastic . To be precise, <span>when the magnitude(ignoring algebraic sign) of the own-price elasticity coefficient has a value less than one, demand is defined to be inelastic. When that magnitude is greater than one, demand is defined to be elastic . And when the elasticity coefficient is equal to negative one, demand is said to be unit elastic , or unita

status | not learned | measured difficulty | 37% [default] | last interval [days] | |||
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repetition number in this series | 0 | memorised on | scheduled repetition | ||||

scheduled repetition interval | last repetition or drill |

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